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Released: April 18, 2013
Prepaid cards: good choice if you choose wisely
Source: Herb Weisbaum, Today (NBC)
Prepaid debit cards are billed as a better way to manage your money, a smart alternative to checking accounts. With a prepaid card there’s no credit check
and no minimum balance required. Since you can’t spend more than you load on the card, there are no overdraft penalty fees. (Note: Some prepaid cards now offer overdraft protection for a fee, defeating one of the main reasons to have the card.)
No wonder this formerly niche financial product has gone mainstream. Millions of people now use them for shopping, to transfer money to kids in college or receive federal benefits.
Read Full Article: Prepaid cards: good choice if you choose wisely
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